Asiana Airlines, South Korea’s secondlargest flag carrier, said Wednesday it swung to a net profit in 2014 as the weak yen and falling oil prices bolstered demand for its flights.

Asiana Airlines, South Korea’s secondlargest flag carrier, said Wednesday it swung to a net profit in 2014 as the weak yen and falling oil prices bolstered demand for its flights. Net profit came to 62.7 billion won (US$57.2 million) on a consolidated basis last year, a turnaround from a loss of 114.7 billion won a year earlier, the company said in a regulatory filing.

The airline reported 98.1 billion won in operating income, a turnaround from a loss of 11.2 billion won a year earlier, while its sales expanded two per cent to 5.84 trillion won. “Encouraged by the weak yen, passengers traveling to Japan, China and Southeast Asian countries steadily grew compared with a year earlier,” the company said. “Demand for air freight transport also expanded thanks to the recovering US economy and cargo pileups at seaports in western regions,” it added.

On to its 6th year, The Payload Asia Awards is a celebration of excellence, spotlighting the air cargo supply chain companies that have excelled in the industry by rising above the very challenging global air freight market. These companies have shown market adeptness, innovative thinking and superior strategy – to make a positive impact on their own business and the market in general.

This year’s award continues with the innovative dual track awards – the first and only in the industry – that offers two unique but equally legitimate views of excellence.

In the vein of the entertainment industry’s People’s Choice Awards and the Academy Awards, we present the Customer Choice Awards and the Industry Choice Awards – the first determined by popular online voting and the second through ranking by an esteemed industry panel.

Payload Asia continues to be the authoritative source for informative, accurate and up-todate news and information on the air cargo industry and related sectors. With its updated and refreshed look the print edition continues to provide high quality coverage on the Asia-Pacific, India-Middle East, Europe-CIS, North & South America and Africa air cargo markets.